Innovation
Review the processes of invention and innovation. Then, select a new product that you have been introduced to in the past 12 months. You are encouraged to research this new product using outside sources. You can use the same company you have been researching, or pick a new one.
You are to create a PowerPoint presentation about future inventions this new product could help to inspire and what innovations could be developed to enhance and improve this product. Analyze how these two areas could impact the company. Perform an analysis or SWOT on potential impact of inventions or innovations. Your PowerPoint presentation should include the following elements:
Slide 1: Title page
Slide 2: Objective or table of contents
Slide 3: Description of the new product
Slide 4: Description of the importance of R&D to include lead users and market research
Slide 5: Discussion of appropriate structure and culture necessary to support innovative ideas and products
Slide 6: Exploration of future inventions inspired by the product
Slide 7: Analysis of future innovations of this product (Was this a successful invention leading to innovation?)
Slide 8: ROI, shareholder value, economic value added analysis, or a SWOT, on innovation
Slide 9: ROI, shareholder value, economic value added analysis or a SWOT, on invention
Slide 10: Brief description of the benchmarking process as applied to this company (What problems with performance measuring can be encountered?)
Slide 11: Prediction of product demand in five years
Slide 12: Conclusion
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